How to Modify Money Management After the Presidential Election

Irvine, CA.—MoneyNing.com published a new blog addressing the question of how to change money management since the recent election. Financial blogger David Ning urges readers not to be reactive, but to follow sound financial practices, including living within ones means and protecting assets. Since the results of the presidential election in November became known, financial information site MoneyNing.com has been receiving an increased number of questions regarding how the election affects their personal money management strategy.

The question was addressed in a recent blog post aptly titled, “How to Change Money Management After the Election.” The bottom line, according to the blog poster and site founder David Ning, is straightforward: “don’t.”

“First of all,” says Ning, “it’s important for people to understand that policies come and go, but the basics of financial management remain the same. Planning ahead is good, but there’s no crystal ball that can predict the outcome of any particular policy changes that may be implemented by the new administration. So for individuals, it’s important to stay focused on the basics of financial management.”

Living within ones means is the first step. Ning advocates assessing income and expenses to make sure people spend less than they earn. An honest look at where people are spending money can be shocking, but is vital to getting spending under own control to begin building wealth from there.

One of the best ways to cut costs is to make sure to get the best value for your money. Often consumers can save by buying in bulk, or at least in multiples. This even applies to household expenses like cable TV and internet service. For example, Verizon offers bundled services, which means that by getting television and internet services both through them, there is a much lower price than paying for the two services separately. Sometimes there may be a landline phone thrown in, or for a very low monthly fee.

Several additional principles are addressed in the blog post, which also admits that fine tuning may be necessary. It is important to be aware of changes to laws that affect each individual, but staying the course once there is a solid financial plan still seems to be the best advice available.

About MoneyNing:

MoneyNing.com is a financial information website aimed at making the path to financial independence “fun, entertaining, and informative.” Founder David Ning takes a three-pronged approach, encouraging readers to take control of their finances, become debt free, and build wealth over time. Visit MoneyNing.com for financial education, moneysaving tips, and guidance on improving your money mindset.